How to Set Up Financial Management › Currencies › Set Up Conversion Rates

Set Up Conversion Rates

To perform currency conversions, set up conversion rates in both directions. For example, if you set up an exchange rate for INR to USD, you must also set up the reverse direction exchange rate from USD to INR. If you do not set up the reverse exchange rate, you will receive an error when you try to process transactions after changing the currency type.

You can complete this procedure only if CA Clarity PPM is set up as a multicurrency system.

Important! When entering a value for any money field (including custom money fields), the product supports and is limited to up to 18 digits. Any value after the 18th digit changes to a zero.

Follow these steps:

1. With the financial organization structure open, click Foreign Exchange Rates.

   The foreign exchange rates appear.

2. Click New.

   The exchange rate properties page appears.

3. Complete the following fields:

   From Currency

   Defines the currency to convert.

   To Currency

   Defines the currency to convert items to. If the desired currency does not display in the list, check that the currency is active.

   Conversion Rate

   Defines the conversion rate.

   Rate Calculation Method

   Defines the calculation method.

   Values: Divide or Multiply.

   Exchange Rate Type

   Defines the exchange rate type.

   Values: Average, Fixed, or Spot.

   Effective Date

   Defines the effective date for this conversion rate.

4. Save the changes.